HomeMy WebLinkAboutMINUTES - 12171991 - 1.118 RESOLUTION NO.
RESOLUTION ORDERING SALE OF REFUNDING BONDS
REASSESSMENT DISTRICT NO. 1991-2
(REFUNDING WAYSIDE PLAZA A.D. NO. 1985-3)
The Board of Supervisors of the Contra Costa County
resolves:
The Board of Supervisors accepts the offer of SMITH
BARNEY, HARRIS UPHAM (attached to this resolution and by reference
incorporated in it) to purchase all of the refunding bonds to be
issued in Reassessment District No. 1991-2 (Refunding Wayside Plaza
A.D. No. 1985-3) , County of Contra Costa, California.
The Board of Supervisors directs the sale and delivery of
the refunding bonds to the .offeror in accordance with the terms and
conditions stated in the offer.
I HEREBY CERTIFY that the foregoing resolution was duly and
regularly adopted by the Board of Supervisors of the County of
Contra Costa, State of California, at regular meeting thereof, held
on the 17th day of December, 1991.
ATTEST:
PHIL BATCHELOR, Clerk of the
Board of Supervisors and *f' -___••,,
County Administrator *! 1`
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BID FORM
For. Contra Costa County,Limited Obligation Refunding Bonds,Reassessment District No.1991-2(Refunding Wayside Placa Assessment District
No.1985-3)
To: Board of Supervisors
Contra Costa County
C/O: Sturgis,Ness,Brunsell&Sperry
2000 Powell Street,Suite 1690
Emeryville,California 94608
In accordance with all terms and conditions of your Notice of Sale,dated December 10, 1991, for the purchase of not to
exceed$2,010,000.00 principal amount of Improvement bonds designated "Limited Obligation Refunding Bonds,County
of Contra Costa,Reassessment District No.1991-2(Refunding Wayside Plaza Assessment District No.1985-3),we submit
the following!bid for the bonds to be dated December 30, 1991, with interest payable March 2, 1993 and thereafter
semiannually on September 2 and March 2:
t
BONDS INTEREST BONDS INTEREST
MA T URUII G RATE MATL'RLVG RATE
1993 S 2000 -7. 0
1994 2001 7. 00
1995 U O 2002 —?. 1 o
1996 O 2003 -7 - / 0
1997 t) C) 2004 O
1998 2005 7. 01 G
1999 -7. d G 2006 �• d
We will pay 98.75% for a total of$1,984,875.00 which is a discount of$25,125.00 from the$2,010,000.00 par value,plus accrued interest to the date
of delivery. As a matter or information,the interest cost,in accordance with the above bid,is:
Gross Interest Cost $ 1 . 3o2
iscou 44efeitimj $ J Q S I C),S . 0 U
TOTAL NET L\TEREST COST 1 3 0-7 3 3 0 L
This offer is subject to a satisfactory legal opinion by Sturgis,Ness,Brunsell,&Sperry,Emeryville,California,approving the validity of the Bonds.
Enclosed herein is a Cashier's or Certified check in the amount of$20,000.00 payable to the order of the County of Contra Costa which funds we request
be returned promptly in the event we are not the successful bidder,otherwise to be retained and applied against the purchase price of the Bonds.
Other Members of the Syndicate are: Check Number: u a 6
Submit by: MARK BOYD---)C
(Representative' am
(Representative's mature).
Date: 12116/91
Firm: SMITH BARNEY, HARRIS UPHAM